At an economic and market update webinar held recently for Banjo Loans clients, David Robertson, Head of Economic and Market Research at Bendigo and Adelaide Bank, said that due to the coronavirus, 2020 could be described as an ‘economic gap year’.
In other words when it’s over, business will resume, and will have a somewhat changed outlook from the experience.
Overall, Robertson took a fairly upbeat view of our economic future relative to the current situation. Here are some of his observations and predictions.
Australia has benefitted from good management and good luck, in that distancing and shutdown measures were applied early and proactively, and so far have flattened our infection curve. Fiscal stimulus measures have been timely, and very effective so far.
There is expected to be a short-term impact on residential property prices, with a 5-10% reduction in prices coming through quickly. Clearance rates will probably remain low for the next 3-6 months. The government business stimulus package together with bank repayment pauses, should mean that forced home selling will be kept to a minimum. Robertson’s personal view is that this is a market to buy into.
Australian stock markets have to date been more volatile during COVID-19 than they were during the GFC, with a 39% decline in just under 4 weeks. As always, super and stock market investors would be well advised to take a long term view. Robertson believes that taking up the option introduced by the government to allow the withdrawal of $10,000 out of superannuation is unwise and should only be a last resort.
Not surprisingly, consumer and business confidence has fallen. Roy Morgan reports that consumer confidence is lower than during the GFC but not as low as the 1991 recession yet.
The Reserve Bank of Australia is predicting up to 10% unemployment. We have seen a 6.7% fall in wages since the shutdown began. Victoria, Tasmanaia, WA and the Northern Territory have been impacted the most, with NSW and Queensland being more buoyant.
Among the hardest hit sectors are: hospitality; arts and recreation; tourism and other service sectors. Seventy per cent of Australia’s GDP comes from services, tourism and education.
The sectors least impacted have been: education and training; utilities; health care; transport and logistics.
Retail has experienced its best ever March and April trading. No prizes for guessing that this is largely due to panic hoarding of supermarket goods.
The world’s largest economy, the USA, is arguably suffering the most with huge numbers of unemployed and the highest mortality rate.
China is getting back to business quicker than expected, despite the huge hit to their economy. As it is currently Australia’s largest trading partner, this is good news.
The iron ore price is holding up well, at more than US$80 per tonne, due to demand from China and SE Asia. The coal price is also holding up pretty well, the gold price is high, and agriculture prices are steady, all of which helps.
However, as we know from the bowser, the price of oil has collapsed. Australia is a net energy exporter, so the plunge in the oil price will flow through to a fall in LNG prices.
Robertson believes that now is a great opportunity to be locking in debt. The RBA has cut the rate to an historic low, and has now pulled the quantitative easing lever. The 3 year bond rate is down to 0.25%, a record low, and the 10 year rate for government borrowing is 1%.
The banks have access to cheap money and that is flowing through. Lenders and borrowers all have a part to play in getting liquidity into the market. Regulators recognise that.
Robertson believes structural reform is needed to drive sustainable growth beyond the crisis. In recent years there has been a focus on getting the Federal Budget back to surplus. Now we’re in deficit, the surplus is off the table, so why not spend on structural reform. In his view, the nation can afford more debt, and will see a return for that investment.
He argues that while Australia does need to be more self-reliant in manufacturing, it would be naïve to think we can compete for all types of manufacturing. He believes we should not indulge in protectionism.
There is an argument for tax cuts for small business. An increase in GST would be the fairest way to offset and make way for income tax cuts.
This has been the pattern for the last 100 years, so take heart.
Robertson’s informed view is that right now we have hit our lowest point in inflation. Given the last two years of record low interest rates combined with coronavirus stimulus measures, inflation will start to build on the other side of this crisis, as early as 2021. There is growth ahead!
The Aussie dollar remains low, currently at around 62 or 63 cents, which is a big help to the economy, contrary to popular belief. Depreciation tends to flow through to higher rates of growth, and better outcomes for jobs and inflation.
Over the next two years Robertson believes we will see our highest unemployment rate since the 1930's, but ultimately a big V or W in growth of both the Aussie dollar and employment.
Once we get past COVID-19 we will be back to old issues around wages growth, technology wars and climate change.
Finally, Robertson’s key message for small business is: just as your financial strategy and balance sheet structure are important, so too is your strategy in the context of changing consumer demand.
Have you considered what post-COVID-19 spending habits and consumer choices will look like? Make sure you adapt your business strategy to deal with digital disruption and compete with virtual commerce.
A recording of the webinar is available at Banjo’s website for you to view anytime.
Disclaimer: The information contained in the article is the views of Bendigo & Adelaide Bank’s Head of Economic & Market Research, David Robertson and not that of Banjo Loans.
Australia relies upon its small businesses, and these small businesses rely upon capital if they are to grow and survive. In many cases, business owners already have a clearly defined plan for growth, but there is one problem -- the capital they need is not available.
This is where government bodies, financial services firms, brokers, business mentors, and the accounting sector, all have a part to play. It is these entities that help business owners better understand their options for financing.
For many small and medium-sized businesses, it is the timing mismatch between inflow and outflow which causes cashflow problems. With this impediment in the way, how can a business also hope to fund growth? What many business owners do not understand is that growth must be linked with the source of capital, and, instead, they focus primarily on their revenue targets. To grow, a business must win new contracts, hire new staff, purchase more inventory, or pay deposits to the manufacturers of their goods, and all of this rapidly absorbs cash.
So what is the alternative? One route is to generate cash internally, but how can this cash source be unlocked? Many business owners cannot even visualise the sources of cash within their organisation -- for example, in the inventory already sitting on the warehouse floor, or the longer term contracts currently being worked on. How can they be expected to implement the strategies needed to extract this cash? The answer lies in finding a good and reliable accountancy team.
Let's consider, as an example, a rapidly growing company that has been successfully operating for more than four years, generating $2M+ of turnover. This company has historically funded itself in the following ways;
These funding sources might seem like two fairly solid revenue channels, but there is a problem -- the business is not generating enough capital to grow and has had to miss out on key sales as a result. The funding methods this business are using are simply inadequate.
Of course, this is just a single example, but it rings true for many. Research shows that 67% of small business owners who are focused on long term growth will use business profits as their primary means of funding, while 19% rely primarily on personal savings. Only 8% will opt to use a business loan to fund their growth.
On the surface, this appears to be a wise choice. Borrowing small business growth capital is commonly viewed as a risky strategy, after all. However, this approach could be stifling businesses.
By using controlled borrowing alongside short-term working capital, companies are, in fact, able to accelerate the velocity and quantity of their supply chain, and so take advantage of the market demand. Increased speed to market, combined with a higher quantity of readily available inventory, translates to increased revenue.
Banks, too, and alternative lenders, such as Banjo Loans, can be sources of capital.
The business in this example - an online retailer -- believes they require a 'touch and feel' component to assist sales, and have the opportunity to place stock into European, Canadian, and US markets in time for the northern hemisphere's summer. To cover manufacturing costs, the company used internally generated funds to pay for a 50% deposit with a Chinese manufacturer, but the goods will only be delivered when the final $250K is paid.
While the company waits for further capital to be unlocked within their business, they risk missing out on this lucrative summer market, which could cost them $1.0M in sales. Borrowing the $250K would secure this projected $1.0M, with the same operating cost base for the company, with increased profitability.
In another example, Banjo Loans formed a relationship with a domestic manufacturer of niche transportation vehicles. The manufacturer's turnover was then $1.5M, but market demand was far in excess of the company's capacity to fund the increase in raw stock, as well as manufacturing lead times, finished goods, and credit terms for buyers.
A 30% deposit to manufacturers in China was covered using working capital, as was the purchase of raw materials upfront. Banjo Loans assisted with a short term working capital facility, enabling the company to accelerate its products' journey to market. Their growth in revenue is projected to exceed $7.5M in 2019.
Both of the above examples highlight the 'butterfly effect' within the Australian economy, in which access to funding directly increases turnover, revenue, and profitability. This was highlighted in the Fintech in Australia study, conducted by Frost and Sullivan in 2015, which forecasted how the Australian fintech sector would grow at a CAGR of 76% by 2020 and add $1B of new value to the Australian economy.
But what does this mean on a global scale? When looking at the bigger picture, we can see that 90% of businesses worldwide are classed as SMEs, contributing 60% of overall employment and 50% of gross added value.
A report from the United States, released in May 2018, found a huge upsurge in the amount online small business lenders are providing to SMEs, as well as a huge resulting economic impact. Between 2015 and 2017, small business lenders such as OnDeck, Kabbage, and Lendio;
We can see these same results in other key global markets, such as in the UK.
The data also shows just how big of an impact these lenders have for businesses in local communities across the world. For every $1 lent to an SME, as much as $3.79 of gross output is achieved in the community on average.
There are still challenges to be faced in Australia, but the future looks bright. The rise of fintech and alternative lenders looks set to connect more businesses than ever before to the growth capital they sorely need. And this is, without a doubt, great news for our society as a whole.
There is a new breed of successful businesses that all share one common characteristic. They are customer-first, not product-first. This shift in focus becomes difficult in more well established organisations who have built processes and infrastructure to deliver products they feel comfortable with rather than creating positive experiences for their customers. However, in the modern business world, it is the customers’ desires (and not the business’) that need to come first and inspire innovation and growth.
This is where the product-first model falls short. Instead of dictating to customers, businesses need to listen - and listen well - to what their customer base has to say. In this article, we'll be looking at this in more detail and understanding how small businesses and lenders alike can adopt this new focus.
Data really is everything in modern business. This is not simply because it is helpful for seeing evidence of the results, but rather, it's because business owners need this evidence and this understanding if they are to bring about meaningful changes in their operating procedures.
So, how do business owners measure customer-centricity and how do they receive proof that their efforts are working effectively?
A recent article published by McKinsey & Company identifies three core elements to successful measuring and analysis of customer-focus in business. These are:
This means expanding the focus of analysis to cover the totality of the customer experience. Rather than solely focusing on a transactional touch point, businesses must gather data from the entire customer lifecycle in order to properly understand how the customer is interacting with the organisation.
The second element requires the deployment of the necessary technology at every stage; technology which makes it possible to gather this valuable data. This includes technology to capture direct, qualitative data from customers, as well as tech which integrates survey results, social data, and other sources on a usable platform.
The feedback loop concerns your customer-facing staff in particular. Your staff need to be able to capture the data provided to them by customers regarding their experience, and then wield this data as they aim to enhance this experience in the long term. This means developing the end product so it is more in line with what the customer needs, as well as applying the same approach to customer service.
And how about the metrics? What should business owners be measuring to ensure that they are adopting a customer-first approach?
There are two key aspects here:
Now that high levels of customer focus have become so vital to modern businesses, it is no surprise that small business lenders are adopting a similar approach. The recent Royal Commission report by Commissioner Haynes pushed lenders to be more customer-focused, directing institutions to act fairly, legally, and with their customers' best interest at heart.
This is a far cry from the traditionally product-first landscape of business lending, in which little attention was paid to relationship building and offerings were often unfit for purpose with regard to small and medium-sized businesses.
The new breed of alternative lenders have recognised this and are already ahead of 'the big banks' when it comes to a profoundly customer-oriented focus. Lenders such as Banjo Loans have the doctrine of being customer-first written into their very DNA, and are characterised by a distinct focus on responsible lending. We can see this in the impact of the lending strategies on the customer themselves - with a customer-first approach, the entire customer experience is supported at each turn, eliminating things like financial stress which can also affect personal lives.
This pleasing shift in focus is evident in other areas too. Accountancy services are becoming increasingly geared towards the customer, and are incorporating improved advisory, auditing, and taxation capabilities, which are more in line with what the client actually needs as opposed to what the accountant wants the client to need. Alignment of need and product, or need and service, is leading to a far brighter future for businesses and is supporting their ongoing growth.
Uber, Amazon, Netflix - chances are you've heard of these organisations. It's no coincidence that all three are obsessed with their customers. The emphasis on customer-focus is not always easy to achieve but it must be the goal of all businesses if they are to grow. There is no way to side-step this challenge - the customer must come first, every time.
If you’re still using traditional accounting software – or even a paper-based system - in your business, switching to cloud-based accounting may seem daunting.
But you might be surprised at the benefits it can bring to your business. Among other things, it can dramatically improve collaboration and security, help you control the level of access to your financial information and provide an overview of your business’ financial position in real-time. Plus, you can finally ditch the Excel spreadsheets (or shoebox!).
With cloud-based accounting, your financial data is stored in the cloud (rather than on to a server), which means those with a login can access it securely from anywhere with internet access. Businesses pay a monthly subscription, whereas those using traditional software pay a significant fee upfront.
Stacey Price, of Healthy Business Finances, says many small businesses are still getting their heads around the technology.
One of the major benefits of cloud-based accounting is the ability to choose the level of access: for example you could give your payroll person access only to payroll - not your sales figures.
“Businesses don’t want to give out the exact details of how the business is performing,” says Ms Price.
“If you change bookkeepers or change accountants, or an employee’s leaving, you can take away their access.”
Let’s take a look at three of the most popular offerings.
Ms Price says Xero is the best known, and probably the first true cloud-only accounting software.
“The feedback is that Xero is easy on the eye. People just feel familiar.”
Ms Price says Xero has been designed for small business owners, not just bookkeepers or accountants.
“The biggest plus is that business owners can use it straight away, whereas with MYOB you need a little bit of training.”
There are a few downsides to Xero: no phone hotline (though you can email, or ask your accountant), and you can also only use Xero if you have internet access.
Ms Price says some users also don’t like the fact that you can’t back up Xero, though she suggests that businesses download their reports each quarter.
If you’ve used the traditional version of MYOB, the cloud-based version will look familiar and should be easy to use, says Ms Price. However it can be daunting for first-timers.
Ms Price says MYOB has a Melbourne-based phone support team.
“The support from MYOB is amazing, QuickBooks Online is second and Xero would be third,” she says.
Another bonus is that if you have unreliable internet access, you can download a desktop version and keep working. Once you have internet again, the file will update online.
MYOB has a handy ABN look-up feature. It is also better for more complex inventory needs, such as managing retail stock, she says.
The cheapest of the three, Ms Price says this service is “designed for the lower end of the market”.
As with Xero, the only way to back up QuickBooks is to download the reports you need and save them on to your computer, says Ms Price.
Even the cut-price versions allow free payroll for up to 10 employees.
Where to start
Start by asking yourself a few questions, including the following:
Now that you know what kind of help you might need in your business, how can you make sure you find the right people from day one?
It will be difficult to find great help if you don’t have any clarity on what you want to achieve by working with that person, says Robert Gerrish, business coach and founder of website Flying Solo.
For example, if you’re trying to hire a great marketing person, first nut out a clear aim. Do you want the phone to ring, do you need some exposure, or do you want to increase sign-ups for your product or service, for instance?
Mr Gerrish says ideally you’ll be able to condense your aim down to a single sentence, such as ‘I want to generate new business leads’.
“Start to look around for people who are positioning themselves as doing that precise work,” he says.
On the subject of marketing, Mr Gerrish says you should be taking note of how any marketer is presenting themselves to the world.
If you’re searching for someone to help with IT support, but don’t really know what you need, Mr Gerrish suggests enlisting the help of a more tech-savvy friend or colleague who can help you prepare a one-page brief on what you need done.
Word-of-mouth remains one of the most surefire ways to find quality people to help your business, says Gerrish.
It also pays to ask your potential freelancer or professional for contact details of past clients that you can speak to, or examples of work they’ve completed which is similar to your needs.
Gerrish suggests asking past clients how responsive the person you want to hire is, whether their rates are reasonable, and whether they ever received any surprising invoices.
You should also be asking your potential help about their measures for success, such as ‘how will I know when you’re doing a good job for me?’ says Gerrish.
If you’re hiring a professional such as an accountant, check they belong to an industry body such as CPA Australia or the Institute of Chartered Accountants.
CPA Australia’s general manager of public practice, Peter Docherty, says if you’re looking to get an accountant on board, you should be asking what their areas of specialisation are, and which industries they service.
“What type of client relationship do they prefer? How accessible will they be? Will you be talking to an accountant directly or to a staff member?”
If you’re running a small business, chances are your success doesn’t just depend on you and your immediate staff.
Almost all successful enterprises have a network of people they can turn to for professional help - accountants, marketers, web designers and lawyers to name a few. And while you may not always have a huge budget, it’s still crucial that you find quality people who are not only easy to work with, but will put in the hard yards to help your business prosper and grow.
Whatever level people are in their business, they need to start with the end in mind,” says Fabrice Beillard, of Australia Business Coaching.
“If you start to manage it in that way it will start to be obvious you cannot do it all yourself.” So how do you know what’s worth outsourcing?
Whatever stage you’re at, it’s likely you can at least delegate some of your business’ regular, long-term tasks.
Smaller companies – those under the six-figure mark – might benefit from a virtual assistant or someone to help with the different aspects of digital marketing.
Those in growth mode are probably most in need of outside help to help take their business to the next level. “If they don’t do that they’re going to be stuck running in circles all the time,” says Mr Beillard. He says it’s also become much more common for larger companies to outsource tasks such as accounting, or basic administration.
Divide up the regular tasks that your business performs – for example under the areas of marketing, sales, compliance or accounting – and note who currently performs each task.
“You still want to know your numbers, but you don’t need to be the one that’s going to punch every receipt into the system,” he says.
Many businesses make the mistake of either wasting their own time, or choosing outside help based on the cheapest price, says Mr Beillard.
“People end up spending a lot of time doing trial and error, spending a lot of resources but not getting the right outcome.
“They’re generally looking at things mostly in terms of how much it’s going to cost them, but they end up having to get it redone.”
If there’s one thing any small business is always short of, it’s time.
Often we get so bogged down in the day-to-day things that keep our businesses ticking along, it’s impossible to free up the time needed to dream up big-picture plans.
The great news is there’s an increasing number of productivity tools that can help you easily (and cheaply) streamline your operations – hopefully boosting your profits in the process.
Here are five tools you can start experimenting with now.
This project management tool allows teams to divvy up work, thrash out ideas, store and organise files and assets, and layout deadlines.
Matthew Magain, who runs the whiteboard animation business Sketch Videos, says Basecamp helps him assign to-do lists, and chat with his copywriter, illustrator and videographer in one online location. He also uses it as a repository for shared documents.
“This stuff normally happens over email or phone calls – the fact that they get sent a notification (when tasks are updated) is a huge time saver,” he says.
Alternative option: Freedcamp
Dropbox keeps files such as photos and documents safe and synced, making them easy to share.
Mr Magain uses Dropbox to store and share videos and other files that are too big to email.
It also allows him to store the various elements of each video in separate folders, such as scripts, imagery and audio, which everyone in his team can automatically access.
In his second business, the online learning resource UX Mastery, Mr Magain uses HipChat, a tool that enables teams to chat privately or in a group and share files.
Users are able to organise conversations, dubbed ‘rooms’, by topic.
For instance, Mr Magain uses ‘content’ to chat around podcasts and newsletters, and the ‘community’ room for chats about fostering the business’ online community.
Alternative option: Glip
Task management tool Things is something Mr Magain says he “would not be able to live without”.
The tool is basically a giant to-do list, which can be viewed by project, topic, or priority.
Mr Magain uses it to capture anything he needs to do in his professional or personal life, and the information is synced to his phone.
He uses it in conjunction with an Excel spreadsheet, where set times for each task are laid out.
“I realised that if I don’t plan my time like this then I’m completely reactive.”
Alternative option: Todoist
Advertising agency PENSO uses a large array of productivity tools to improve business efficiencies, including software development tool Jira.
Penso’s head of production David Rigbye says Jira has helped the business dramatically improve the way it delivers its products - such as websites, designs and videos - to clients.
“It allows us to break projects into tasks and ship them incrementally,” says Mr Rigbye.
“Rather than disappearing for months on end and launching a big project at the end of that period - it enables us to deliver the first component in one week or even one day.”
Alternative option: Assembla
Rewarding employees for a great performance is one of the best ways to ensure the business is able to attract and retain the right staff. While financial incentives are of course important, they are not the only way to show staff you appreciate their work.
So here are five great ideas to motivate your team without breaking the bank.
Stacey Price from Healthy Business Finances says this is the first step when it comes to rewarding great employees.
“I also pay for them to do training and I know my business has benefited from my employees’ extra skills. Staff also love the challenge of undertaking training they would otherwise not have done,” she says.
Great communication techniques are a critical business management tool – especially when a quick fix can address an employee’s concern. For instance, one of Price’s employees told her they didn't like the timer function in the program the business uses to track time for client jobs.
“So I bought a $4 miniature electronic timer which I gave to her and she was over the moon. Listen to what your staff need to make their job easier,” says Price.
Don't expect because one person loves wine all staff are happy to receive a nice bottle for a job well done.
“Some people might want to finish 30 minutes earlier on a Friday to get home to see their family. This costs the same as a bottle of wine and I know my employees love getting an early mark once a month,” she adds.
Giving employees Christmas puddings every year is boring and predictable. Plus, if staff don't want the incentive you are trying to give them then it really is not an incentive. Price suggests researching alternatives and giving staff personalised gifts. “Last year at Christmas I gave staff themed wine charms. People loved them and they cost less than $10 each.”
Above all, never forget to say thank you to your staff. It’s easy to forget to praise staff when they do a good job and we’re often very quick to criticise if things don't go to plan. Instead, make sure you acknowledge staff every time they turn in a top performance.
Blood, Sweat and Tears
You are no longer the start-up business owner with a dream and passion. After 3 or more years of hard work, persistence and some anxious nights - your business is established and you may even be drawing wages.
Remember when you approached the bank for financing at the start and the answer was: ‘too early for us’ or the Bank Manager asked you to provide your home as security or possibly suggested you fund your business with an expensive business credit card?
It is just so perplexing when today an enthusiastic Business Development Manager of the same bank has become aware of your business success and wishes to proactively market their services to you.
He says “If you could provide me with a business plan telling me your story; how your business works; and bring a 12 month cash flow forecast and copies of the last 3 years historical financial statements….we could have a really good conversation.”
And you are thinking that you funded the business from savings and family loans, toiled into the wee hours and weekends, sacrificed family holidays to build the business. It has been substantially de risked. And your bank is now stating they would consider a square shaped loan if you have some square shaped box full of the required information. Well, whilst you could do with a cash injection to kick-start a new campaign, you just do not have the time to compile the information required and quite frankly you have more pressing priorities; like generating income today.
Here are two real life examples that establish the needs of small business when it comes to growth: convenience, speed and access to finance.
Grace runs an established gift and home wares retailer with sales approaching $1m per annum. Lately, her revenues have been growing due to the ever expanding suburban population and increased foot traffic in the main street shopping strip. And online sales have steadily grown over the last 3 years without any advertising. Grace and 3 full time staff are very busy, and her mother works two days a week part time to help as well. After she closes the shop and completes some daily administrative tasks, she gets home well after 6pm to take care of her two children. She gets some breathing space after 9pm when the kids are in bed. Grace knows that hiring a book keeper 1 day a month will help – a small marketing budget could increase online sales – and the shop next door is available for lease which would give her more space to meet customer demand especially as Christmas approaches.
All of this will require a $65,000 investment, and she will need to finance it. The Bank across the road closes at 4.30pm, and she finds it difficult leaving the shop during the day to visit a banker. One night she goes online to search for options and finds the website of a marketplace lender called Banjo. The online application takes less than 10 minutes and it is easy to complete due to drivers license identification and the download of financial records from her cloud based accounting software (MYOB). She is asked a time when the lender can call, and a time is arranged for 8.30am as she is driving to open the shop. After some general discussion about the business, the loan is approved and the funds are deposited into the nominated business cheque account the next day. No documents required, no paperwork: all completed online with a brief telephone conversation. Grace’s priority was funding the expansion to make the most of the Christmas retail season and she was able to achieve this with fast funding. Banjo served her needs at rates equivalent to a traditional financier and the Bank didn’t even get a look in.
Eddie runs a commercial property firm with a large customer base for both small businesses and mid-sized corporates for a region of Victoria. The firm is well known and valued for their ‘straight up’ approach. Lately he has been so busy that he has 4-5 day pre-set schedules with no room for ad hoc meetings.
Despite a strong and regular rent roll, commercial real estate sales can fluctuate, and Eddie knows he has a looming cash flow shortage with GST and Superannuation payments due at the end of the quarter. He knows these will easily be covered in March with some excellent property sale listings.
Eddie approaches a local bank but the analyst viewed the funding of statutory payments as a sign of a distressed business. Eddie was not willing to pledge his family home as collateral, and decided not to proceed with the loan application. Five pages of application forms and a 3-week waiting period were just not worth his time.
On a Sunday watching his son play football from the comfort of his car, he went online searching for small business loans and found Banjo. The application was completed in 10 minutes, he downloaded his Xero accounting information and he received an approval Monday morning. The funds were deposited to the business cheque account that day.
The Bank believed Eddy was a less credit worthy customer. Banjo reviewed all available data in real time to obtain a holistic view of the business and made a different decision.
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There are many such case studies: busy business owners that are passionate about their trade and customers; there are many service businesses owned by young people that may not have purchased a home; there are opportunity hunters that know you must act quickly to capitalise on a growth option.
Banjo uses a myriad of available financial data to obtain a holistic view of the business in real time. We provide a unique user-friendly online customer experience: not a bricks and mortar destination separated from reality by a moat of rigid rules.
Sounds just brilliant to me.
* These case studies are taken from real Banjo customer experiences
